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  • MTN Nigeria has dominated the country's telecommunications market over the years, accounting for the largest market share. All four operators, apart from 9mobile, recorded a significant increase in their subscriber base between May 2014 and March 2024.

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    Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.
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  • A Trend of Adult literacy rates of African countries

    Between 2018 and 2021, adult literacy rates across African nations exhibited significant disparities. Seychelles and South Africa led with literacy rates of 96% and 95%, respectively, indicating a high proportion of literate adults. Conversely, Chad had the lowest literacy rate during this period.

    These statistics underscore the uneven progress in educational attainment across Africa, highlighting the need for targeted interventions to improve literacy in lower-performing nations.

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    Inflation rate in Nigeria increased to 31.7% in February 2024. Nigeria has the 13th highest inflation rate out of 186 countries and territories as of February 2024.

    The data showcases Argentina leading with 276%, followed by Lebanon and Syria. Seven of the top fifteen are African.

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  • Nigeria was the seventh most populous nation in the world in 2020, with 206.1 million people. Projected to reach a population of 401.3 million by 2050, Nigeria will rank third after India (1st) and China (2nd). According to Institut national d'études démographiques' projections, Nigeria, Ethiopia, DR Congo, Egypt, Tanzania, and Kenya will be among the world’s top 20 most populous countries by 2050.

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    The FAAC's revenue distribution from 2017 to August 2023 highlights the dominance of Delta, Akwa Ibom, Rivers, and Bayelsa states in allocations. Despite Lagos' economic prominence, it ranked fifth. Here is the distribution of revenue among states between 2017 and August 2023.

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  • MTN Nigeria has dominated the country's telecommunications market over the years, accounting for the largest market share. All four operators, apart from 9mobile, recorded a significant increase in their subscriber base between May 2014 and March 2024.

    See more
  • Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.
    See more
  • A Trend of Adult literacy rates of African countries

    Between 2018 and 2021, adult literacy rates across African nations exhibited significant disparities. Seychelles and South Africa led with literacy rates of 96% and 95%, respectively, indicating a high proportion of literate adults. Conversely, Chad had the lowest literacy rate during this period.

    These statistics underscore the uneven progress in educational attainment across Africa, highlighting the need for targeted interventions to improve literacy in lower-performing nations.

    See more
Other Insights
 
  • The Ministry of Art, Culture, Tourism and the Creative Economy allocated a total of ₦10.5 billion to its MDAs for the 2025 fiscal year.
  • The National Institute for Hospitality and Tourism (NIHOTOUR) received ₦8 billion, the largest allocation.
  • NIHOTOUR's allocation accounts for 75.5% of the ministry’s total budget for 2025.
  • The Nigerian Tourism Development Corporation received ₦2.6 billion, representing 24.5% of the total allocation.
  • NIHOTOUR’s budget is more than three times the allocation given to NTDC.
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  • The Nigeria Immigration Service received the highest share — ₦618.7 billion (55.8%) — of the Interior Ministry’s 2025 budget.
  • This allocation emphasises border security and migration management as national priorities.
  • The NSCDC follows with ₦240.9 billion (21.7%), highlighting the government’s focus on civil protection and internal security.
  • The Nigeria Correctional Service received ₦184.6 billion (16.7%).
  • Other agencies, including the ministry headquarters, received ₦64.5 billion (5.8%).
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  • The Federal Ministry of Arts, Culture, and Creative Economy received a total of ₦71.7 billion in the 2025 budget.
  • The National Commission for Museums and Monuments got the highest allocation of ₦15 billion.
  • Visual and film industries received notable funding of ₦10.1 billion for the National Gallery of Art and ₦8.4 billion for the Nigerian Film Corporation.
  • The National Council of Arts and Culture was allocated ₦7 billion.
  • The National Film and Video Censors Board received ₦4.4 billion, emphasising regulation and content oversight.
  • Institutions like the Centre for Black and African Arts and Civilisation, which promotes African identity, received ₦3.5 billion.
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  • Enugu led the country in IGR growth in 2024 with a 433% increase.
  • Bayelsa, Jigawa, Kano, and Osun also experienced large year-on-year increases, indicating widening fiscal activity across regions.
  • Lagos, Rivers, and the FCT recorded slower growth rates but still generated the largest total revenues.
  • The fastest growth often came from states focused on reforming tax systems or broadening local revenue sources, rather than from being traditionally big or wealthy states alone.
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  • Lagos drives most revenue in the South West, accounting for the clear majority of the region’s IGR.
  • Each geopolitical zone has one dominant state that shapes its revenue profile.
  • Fiscal capacity remains heavily skewed toward a few urban and resource-rich states.
See more
 
  • Every subsidiary reported profit in H1 2025, compared to three loss-making units in H1 2024.
  • Nigeria’s profit eased, but stronger performance across other African markets helped support overall group results.
  • Zambia, Sierra Leone, the DRC, Cameroon, and Kenya showed notable turnarounds from previous low or negative earnings.
  • The UK operation remained a major contributor, reinforcing the benefits of Access Holdings’ diversified regional presence.
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  • FUGAZ posted a combined ₦2.91 trillion in profit from Q1 to Q3 of 2025.
  • Access Bank recorded the lowest PAT among the FUGAZ
  • UBA recorded a 3% year-on-year increase in PAT
  • FUGAZ recorded an average year-on-year percentage change of -11.2% for the period
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  • Nigeria’s total IGR in 2024 was ₦3.7 trillion.
  • Lagos State generated ₦1.3 trillion, accounting for over 35% of the national IGR.
  • Rivers State (₦317.3 billion) and the FCT, Abuja (₦282.4 billion) ranked second and third, respectively.
  • The South West led regionally with ₦1.7 trillion in total IGR.
  • The North East recorded the lowest regional IGR at ₦129.8 billion.
  • Economic disparity between regions remains wide, with Lagos alone outpacing entire regions.
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  • ₦310.6 billion is the total allocation for Nigeria’s 110 foreign missions in 2025.
  • The New York (Permanent Mission) received the highest allocation at ₦9 billion.
  • Three US missions (New York PM, Washington, and New York CG) together account for ₦21.9 billion.
  • London (₦7.2 billion) and Geneva (₦6.6 billion) complete the top five highest allocations.
  • European cities such as Paris, Madrid, Berlin, and Berne remain strong diplomatic priorities, collectively drawing over ₦20 billion.
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  • The South East is the only region where the revenue of MDAs (60.9%) exceeded tax revenue (39.1%).
  • Other regions relied more heavily on tax revenue, with the South South leading at 85.25%.
  • The North East and North Central followed closely, with tax contributions of 79.9% and 79.15%, respectively.
  • The South West generated 75.04% of its IGR from taxes, indicating a strong formal revenue structure.
  • The North West maintained a more balanced mix, with 58.54% tax and 41.46% MDAs’ revenue.
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  • Profit Before Tax (PBT) surged 471% from ₦2.15 billion (2020) to ₦12.28 billion (2023); Profit After Tax (PAT) jumped 585% to ₦9.87 billion.
  • Both metrics declined ~11% from the 2023 peak but remained well above historical averages.
  • Effective tax rate fell from 38% (2012) to 20% (2024), allowing the company to retain 80% of pre-tax profits.
  • Absolute tax payments increased from an average of ₦1.01 billion (2011-2020) to ₦2.30 billion (2021-2024), reflecting higher profitability.
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1 2 3 … 115
  • The Ministry of Art, Culture, Tourism and the Creative Economy allocated a total of ₦10.5 billion to its MDAs for the 2025 fiscal year.
  • The National Institute for Hospitality and Tourism (NIHOTOUR) received ₦8 billion, the largest allocation.
  • NIHOTOUR's allocation accounts for 75.5% of the ministry’s total budget for 2025.
  • The Nigerian Tourism Development Corporation received ₦2.6 billion, representing 24.5% of the total allocation.
  • NIHOTOUR’s budget is more than three times the allocation given to NTDC.
Read more
  • The Nigeria Immigration Service received the highest share — ₦618.7 billion (55.8%) — of the Interior Ministry’s 2025 budget.
  • This allocation emphasises border security and migration management as national priorities.
  • The NSCDC follows with ₦240.9 billion (21.7%), highlighting the government’s focus on civil protection and internal security.
  • The Nigeria Correctional Service received ₦184.6 billion (16.7%).
  • Other agencies, including the ministry headquarters, received ₦64.5 billion (5.8%).
Read more
  • The Federal Ministry of Arts, Culture, and Creative Economy received a total of ₦71.7 billion in the 2025 budget.
  • The National Commission for Museums and Monuments got the highest allocation of ₦15 billion.
  • Visual and film industries received notable funding of ₦10.1 billion for the National Gallery of Art and ₦8.4 billion for the Nigerian Film Corporation.
  • The National Council of Arts and Culture was allocated ₦7 billion.
  • The National Film and Video Censors Board received ₦4.4 billion, emphasising regulation and content oversight.
  • Institutions like the Centre for Black and African Arts and Civilisation, which promotes African identity, received ₦3.5 billion.
Read more
  • Enugu led the country in IGR growth in 2024 with a 433% increase.
  • Bayelsa, Jigawa, Kano, and Osun also experienced large year-on-year increases, indicating widening fiscal activity across regions.
  • Lagos, Rivers, and the FCT recorded slower growth rates but still generated the largest total revenues.
  • The fastest growth often came from states focused on reforming tax systems or broadening local revenue sources, rather than from being traditionally big or wealthy states alone.
Read more
  • Lagos drives most revenue in the South West, accounting for the clear majority of the region’s IGR.
  • Each geopolitical zone has one dominant state that shapes its revenue profile.
  • Fiscal capacity remains heavily skewed toward a few urban and resource-rich states.
Read more
  • Every subsidiary reported profit in H1 2025, compared to three loss-making units in H1 2024.
  • Nigeria’s profit eased, but stronger performance across other African markets helped support overall group results.
  • Zambia, Sierra Leone, the DRC, Cameroon, and Kenya showed notable turnarounds from previous low or negative earnings.
  • The UK operation remained a major contributor, reinforcing the benefits of Access Holdings’ diversified regional presence.
Read more
1 2 3 … 229
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